Cat Boy Token Review: Legit or Scam?

Cat Boy token seems to have returned from the land of obscurity where every meme coin head to, every once in a while. In the last 24 hours, it has pumped 700+% and is attracting the interest of many new and old investors. 

I am writing this review of Cat Boy Token to help many investors, who do not know much, understand what they are doing. And to find out whether this token is just another scam coin, like the many in the crypto space. So, If you are one of those investors, interested in the cat boy token, or maybe you are already a holder, this review is for you. 

However, before we begin this review of Cat Boy token, you have to first understand that “I am not a banker or a financial adviser. I will not be held responsible for your financial decisions. It is important to verify or fact-check the things you got from this review and make your conclusions.  This article is just a guide. Consider it entertainment.” With that out of the way, let’s begin.

What is Cat Boy Token?

According to coinmarketcap.com, cat boy is a community-led NFT project, founded and built, by comic, manga, anime, and pet lovers. Cat boy token was first launched four months ago. However, due to some reasons, the token migrated to a new contract that was launched 15 days ago. As we speak, cat boy has about 5,000 holders.

CatBoy Token Website

Cat Boy has what I have now come to know as a typical meme coin website. According to the website, Cat boy token is a symbol of the spirit, cohesion, and sharing of memes, manga, and comic-loving communities around the world. Besides building a strong community. Catboy cares about the real value that the project brings. Bringing Catboy merchandise, a Catboy NFT marketplace, and building a worldwide network of users to donate to feral cats and support struggling cat owners. The cat boy project also has plans of establishing an NFT marketplace. The token also has a new staking functionality, which enables investors stake NFTs to gain catboy tokens.

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Cat Boy Tokenomics

The website lets us know that investors are expected to pay an 11% tax upon every buy and sell. The developers claim that the tax will be used to develop, market, and add liquidity to the token. In my opinion, this token is roundly pro developers. The way the tax is structured, you can see marketing has the highest share. Most of the time, developers do not use the money accrued from the tax to do the actual marketing. Whether this token will take that road is another entirely.

CatBoy Token On Tokensniffer

Cat Boy Token scores 48% on Tokensniffer. You’d agree with me that this is a below-average score. Through Tokensiffer we find out that the 11% tax is only the buy tax. The sell tax is 11.3%. This might not appear to seem like an issue for some people. However, this suggests the developers are not explicitly honest. The major risk with this token is that the contract contains functions that enable the developers to do and undo. This could be harmful to investors. It could also be beneficial to investors and the overall wellness of the token. It depends on what path the developers choose to take. Another point is the fact that tokensiffer thinks the token doesn’t have enough locked liquidity. This could allow for significant amounts to be removed (rug pull). Asides from the above negatives, most of the token’s contract key points, as assessed are positives. For example, there are no whales in the Catboy ecosystem. The liquidity is adequate. Investors can buy and sell the token (at the time of writing), etc.

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Developers Behind Cat Boy

The people behind Cat Boy token are not known. This, in my opinion, increases the risk around the token. It increases the risk because we do not know whether they are people investors can trust or they have the right skill set to deliver on their promise.

Conclusion

In conclusion, for a token that was originally launched 4 months ago. There seem to be little or no progress in the project they planned to embark on. This is common in the meme crypto space. It is all ideas no or poor delivery. CatBoy token as it is is all hype and no substance. This isn’t to say the token is an outright scam. However, the red flags are there.  If you decide to invest in this token, before you invest, talk to the developers, observe the community diligently and invest what you can afford to lose.

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